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DEED OF TRUST 200206345 Page
<br />(Continued)
<br />whether fee title to the Ideal premised, the leasehold estate, or any subleasehold estate, will merge without Lender's express written consent, miner
<br />these astales will remain separate and distinct. even if there is a union of these estates in the landlord, Grantor, or a third parry who pumhases or
<br />otherwise acquires the estates. Grantor turner agrees that if Grantor acquires all or a portion of the tee simple title, or any other leasehold or
<br />subleasehdd title to the Property, that title will, at Lenders option, immediately become subject to the terms of this Deed of Trust, and Grantor will
<br />execute, deliver and record all documents necessary or appropriate to assure that such title is Secured by this Dead of Trust.
<br />6. REHABILITATION LOAN AGREEMENT. Grantor Shall futfill all of Grantor's obligations under any home rehabilitation. improvement, repair, or other
<br />loan agreement which Grantor may enter into with Lender. Lander, at Lender's option, may require Grantor to execute and deliver to Lander, in a form
<br />acceptable to Lender, an assignment of any rights, claims Or defenses which Grantor may have against Caries who supply labor, materiels or services
<br />in connector with improvements made to the Property.
<br />T. DUE ON SALE — CONSENT BY LENDER. Lender may, at its option, have the fight to accelerate, that 5, declare immediately due and payable all
<br />sums secured by this Dead of Trust upon the sale w transfer, without the Lender's prior wdh.n consent, of all or any par of the Baal Property, or any
<br />interest in the Real Property. If Grantor sells or transfers the Real Property without the written consent of Lentler, than, phor to eccebrafion Lender shall
<br />give notice to Grantor. The notice shall provide a period of not Ins than ten (10) days from the date of the notice within which Grantor may pay the
<br />sums declared tlue. It Grantor fails to pay those sums prior to the expiration of such perod, Lander may, without further notice or demand on Grantor,
<br />invoke any remedies permitted in this Dead of Trust. A "sale or transfer' means the conveyance of Real Property or any night, title or interest therein;
<br />whether legal or equitable; whether voluntary or involuntary, whether by outright sale, dead, installment sale contract, land contract. Cannot for deed,
<br />Ie penhold lateral with a term greater than three (3) years, tease— option contract, or by sale, assignmec!, Or transfer of any beneficial interest In or to any
<br />tend trust holding title to the Real Property, or by any other method of conveyance of Real Property interest. However, this option shall not be exercised
<br />by Lender if such exercise is prohibited by federal law or by Nebraska law.
<br />a. TRANSFER OF PROPERTY. The following provisions reel to the munsfar of the Real PropeM are a part of this Dcetl of Trust:
<br />Notice of Transfer. Grantor shall give notice to Lender, as provided in this Deed of Trust, prior to any sale or transfer of all or part of the Prop"
<br />or any rights in the Real Property. Any person to whom all Or part of the Real Property fs sold or transferred also shall be obligated to give notice
<br />to Lender, as provided In this Deed of Trust, promptly after such transfer.
<br />Advances After Transfer. All amounts advanced under the LOANLINER® Home Equity Plan Credit Agreement, up to the Credit Limit, are
<br />Secured by this Deed of Trust, whether advanced before or after sale or transfer of the Real Property, except any amounts which may be
<br />advanced by Lender more than five (5) days star notice to Lender, as provided in this Dead of Trust, that such transfer or sae his occurred.
<br />Even t Grantor transfers the Real Property, Grantor will continue to be obligated under the Credit Agreement and this Deed of Trust unless Lender
<br />releases Grantor in writing. As a condition to Lender 'a consent to any proposed transfer or as a condition to the release of Grantor, Lentler may
<br />require that the person to whom the Real Property is transferred sign an assumption agreement satisfactory to Lender and Lender may impose an
<br />assumption teen The assumption agreement will not entitle the person signing it to receive advances under the Credit Agreement.
<br />B. TAXES AND LIENS. The fouowing provisions relating to the taxes and liens on the Property are a pen of this Deed of Trust.
<br />Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including water end
<br />sewer), fines and impositions levied against or on account of the Property, and Shall pay when due all claims for work done on IX for aeMces
<br />rendered or material furnished to the Property - Grantor shall maintain the Property free of all hens having priority over or equal to the interest of
<br />Lender under this Dead of Trust, excep! for the lien of lazes and assessments not Cup, except for the exisling Indebtedness retained to below, no
<br />except as otherwise provided in this Dead of Trust.
<br />Right To Contest. Grantor may withhold payment of any lax, assessment, or claim In connecho9 with a goad lath dispute over the obligation to
<br />pay, so long as Lender's interest in the PropeM is not jeopardized If a hen arises or Is filed as a result of nonpayment, Grantor shall within fiheer
<br />(15) days after the lien arises or, if a lien Is filed, within fifteen 05) days after Grantor has notice of the filing, secure the discharge of the lien, or iI
<br />requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other securty satisfactory to Lender In an amount sufficient
<br />to discharge the hen pHs any costs and adarnayl fees or other charges that could accrue as a re"Ift of a foreclosure or sale under the hen. In
<br />any conical, Grantor shall defend itself and Lender and shall saill any adverse judgment before enforcement against the Property. Grantor shall
<br />nerve Lender as an additional obligee under any surety bond furnished in the contest proceedings.
<br />Evidence of Payment. Grantor Shall upon demand furnish to Lender satisfactory evidence of payment of the lazes w assessments and shall
<br />authcdaa the appropriate governments' oft al to deliver to Lender at any time a whiten statement of the taxes and assessments against the
<br />Property.
<br />Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced any seMre, are furnished, or any
<br />materials are supplied to the PropeM, if any mechanic's lien, matenalmen's lien, or other lien could be asserted on account of the work, services,
<br />or materials and the cost exceeds 610,000.00. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender
<br />that Grantor can and will pay the cost of Such improvements.
<br />10. PROPERTY INSURANCE The following provisions relating to insuring the Property are a pad of this Deed of Trust.
<br />Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a
<br />replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any
<br />coinsurance clause, and with a standard mortgagee clause in favor of Lender, together, with such other hazard and liability insurance as Lender
<br />may reasonably require. If the Real Property is located in an area designated by the Director at the Federal Emergency Management Agency as a
<br />special flood hazard area Grantor agrees to obtain Federal Flood Insurance to the extent such insurance is required and is available. Policies
<br />shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably
<br />acceptable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to time the policies or cartificales of insurance in term
<br />satisfactory to Lender, including stipulations that coverages will not be Cancelled or diminished without at least ten (10) days' prior written notice to
<br />Lentler.
<br />Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property if the estimated cost of repair or
<br />replacement exceeds S10,000.00. Lender may make proof of loss it Grantor fails to do so within fifteen (15) days of the casualty. It, in Lender's
<br />judgment, the restoration or repair is economically feasible and Lender's security is not lessened, insurance proceeds shall be applied to
<br />restoration or repair of the damaged Property. If the restoration or repair is not economically feasible or Lender's acounty would be lessened, the
<br />insurance proceeds shall ba applied to the sums secured by this Dead of Trust whether or not then due, with any excess paid to Grantor. If
<br />Grantor abandons the Property, or does not answer within thirty (30) days a notice from Lender that the insurance tamer has offered to settle a
<br />claim, then Lender may calker the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by
<br />this Dead of Trust, whether or not than due. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall ber paid
<br />to Grantor as Grantor's Inlorects may appear.
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